KITA News and Reports
  • KITA Held ‘Korea-Turkmenistan Business Forum’
    2019-03-04

    KITA Held Korea-Turkmenistan Business Forum

     

    - Discussed cooperation plans in infrastructure, resource development, construction and information and communication -

     

     

      The Korea International Trade Association (Chairman, Kim Young-joo) hosted the Korea-Turkmenistan Business Forum in cooperation with the Chamber of Commerce and Industry of Turkmenistan in Lotte Hotel in Sogong-dong on February 22nd.

      

      In this forum, which was held concurrently with the 7th Korea-Turkmenistan Economic Joint Committee Meeting, some 100 participants from the organizations and companies of both countries, Hajymyart Hydaygulyyev the Turkmenian Deputy Minister of Ministry of Industry and Communication and Chairman Sung Sang-rok (CEO of Hyundai Engineering) of the Korea-Turkmenistan Private and Public Joint Committee attended and discussed expansion measures in terms of infrastructure, resource development, and construction as well as prospective areas of cooperation.

      

     

      The deputy chairman of the Chamber of Commerce and Industry of Turkmenistan Dovletgeldy Rejepov said in his opening speech, Trade between Korea and Turkmenistan has grown about 17 times over the past 10 years." He added, We look forward to substantial cooperative relations in the fields of industrial production facilities, social infrastructure, modernization of public transportation, and information and communication.

     

      

      Han Jin-hyun, vice chairman of the Korea International Trade Association, said, Korean companies have built confidence in the local markets by successfully carrying out large-scale projects such as Galkynysh and Kiyanly Plants. He also stressed, "Korean companies will make a significant contribution to the economic development of Turkmenistan with their highly advanced technologies in various fields such as chemical, construction and infrastructure."


      

      Turkmenistan is a resource-rich country with 9.4 percent of the world's natural gas reserves and an export powerhouse supplying one-third of China's natural gas imports. Since the country is seeking export channels not only to the existing export destinations such as Iran and Russia but also the European Union (EU) and India, it will be a good opportunity for Korean companies in resource development.

     


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